James was born May 1, 1848, in Philadelphia, United States, in a long line of McCreas who came to Delaware and Pennsylvania near two hundred years earlier.

In June 1899 he was named a director of the Pennsylvania Railroad when Alexander J. Cassatt was made the road's president.

McCrea also served as president of a considerable number of subsidiary roads: Philadelphia, Baltimore & Washington; Northern Central; West Jersey & Seashore; Pittsburgh, Cincinnati, Chicago & St. Louis; Grand Rapids & Indiana; and Indiana & Lake Michigan.

[4] A biographer wrote "his success has been achieved by his ability, his practical knowledge of details, his sound judgment, and his indefatigable application to the arduous duties of railroad work.

He is a man of most affable manner, generous disposition, profound insight, and acute, though humane sense of justice.